Investors who were positioned for higher volatility were
rewarded. The top performer, the exchange-traded note (ETN)
VXX, exposes investors to futures contracts on the Cboe
Volatility Index (VIX), which
reflects implied volatility in the S&P 500.

Business Insider compiled the 11 best-performing
exchange-traded products (which include ETFs and ETNs, like the
VXX) with at least $500 million of assets under management.

Even as the market plunged this year, some passive investors were
rewarded.

The best-performing US-listed large exchange-traded products
included those exposed to going long the US dollar, health care
stocks, and volatility, in addition to shorting US stocks. One of
the best performers, too, was a fund with exposure to companies
focused on providing cybersecurity as a service.

The
major US averages were all down meaningfully from their
respective record highs hit earlier this year, with the S&P
500 (-18%), Dow Jones Industrial Average (-17%), and Nasdaq
Composite (-21%) all in, or near, bear-market territory.

Globally, investors have poured nearly $338 billion into
exchange-traded funds in 2018 through the end of last week, Bank
of America Merrill Lynch told clients in a report.

Here are the top-performing vehicles, ranked by their 2018
returns through Thursday morning.